January 15, 2024

Category: About Sherry Articles Media Reporting on Sherry

Canadian Existing Home Sales Surged in December

Canadian Home Sales Surprisingly Strong in December Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up noticeably month-over-month in December 2023. The December rise of 8.7% was one of last year’s strongest monthly performances.  The actual (not seasonally adjusted) number of transactions was 3.7% above December 2022, the largest…

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January 5, 2024

Category: About Sherry Articles Media Reporting on Sherry

December Jobs Report In Canada Not As Weak As Headline Suggests

Brisk Wage Gains in December Will Keep The BoC Watchful Today’s StatsCanada Labour Force Survey for December was a mixed bag and far more robust than the weak headline figure suggests. Total employment in Canada barely budged, rising by a mere 100 jobs in the final month of last year. However, the labour force participation…

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December 19, 2023

Category: About Sherry Articles Media Reporting on Sherry

Stronger-Than-Expected Canadian Inflation Will Keep The BoC On The Sidelines For Now

Inflation Held Steady In November Today’s inflation report was stronger than expected, unchanged from October’s 3.1% pace. While some had forecast a sub-3% reading, the November CPI data posted a welcome slowdown in food and shelter prices. Increases in recreation and clothing offset this–both are discretionary purchases. Cellular services and fuel oil prices declined on a…

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December 14, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian Housing Markets Bottoming

Housing Markets Prepare For A 2024 Rebound Before we get into the details of the November housing market data released this morning by the Canadian Real Estate Association (CREA), big positive news for housing occurred yesterday. The US Federal Reserve gave its clearest signal yet that its historic policy tightening campaign is over by projecting…

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December 6, 2023

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Holds The Overnight Policy Rate Steady at 5% For the Third Consecutive Meeting

The Bank of Canada Held Rates Steady and Took A More Neutral Tone It was widely expected that the Bank of Canada would maintain its key policy rate at 5% for the third consecutive time. It will continue to sell government securities (quantitative tightening) to normalize its balance sheet. Market participants weighed and measured each…

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December 4, 2023

Category: About Sherry Articles Media Reporting on Sherry

Will the Bank of Canada diverge from the US Fed on rate cuts?

US ‘drives the bus’ on long-term interest rates – but BoC likely to push ahead with cuts, suggests economist Decision makers at the Bank of Canada could be weighing up possible interest rate cuts in 2024 – but they’re sure to be keeping a close eye on developments south of the border as they consider…

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December 1, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian Employment Gains Stronger than Expected in November, While Unemployment Rose and Hours Worked Fell

Jobless Rates Hits 22-Month High–Led by Losses in Finance and Real Estate EmploymentToday’s StatsCanada Labour Force Survey for November was a mixed bag. Total employment gains were stronger than expected. However, the rising unemployment rate and drop in hours worked were signs of mounting economic weakness, especially in the financial and real estate sectors.  Employment…

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November 30, 2023

Category: About Sherry Articles Media Reporting on Sherry

Q3 GDP Weaker Than Expected Paving The Way For Future Rate Cuts

The Table Is Set For Rate Cuts In 2024 The Canadian economy weakened far more than expected in the third quarter, down 1.1% annually. However, the Q2 figures were revised up significantly from a 0.2% decline to a rise of 1.4%. Such are the vagaries of economic data. The Canadian economy is contracting despite the…

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November 30, 2023

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada decision preview: Are rate hikes now a thing of the past?

The Bank of Canada’s path on interest rates has grabbed headlines and dominated the news cycle throughout 2023 – but its final rate decision of the year isn’t expected to hold many surprises. The central bank has left its policy rate, which leads variable mortgage rates in Canada, unchanged in its last two announcements, with…

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November 21, 2023

Category: About Sherry Articles Media Reporting on Sherry

Canadian Inflation Fell to 3.1% (y/y) In October, Ensuring the BoC Holds Rates Steady

Good News On the Inflation Front Suggests Policy Rates Have Peaked Today’s inflation report showed a continued improvement, mainly due to falling year-over-year (y/y) gasoline prices. The October Consumer Price Index (CPI) rose 3.1% y/y, down from the 3.8% rise in September. There were no surprises here, so markets moved little on the news. Excluding…

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